The launch is an important step in Bahrain’s pursuit of incentivising investments and boosting job creation
Bahrain has announced the launch of the Golden License, which provides streamlined services and incentives to foreign and local businesses with large-scale investment projects in the country. This move is part of Bahrain's efforts to encourage investments and increase job creation under its fiscal and economic reforms.
The Golden License is an extension of Bahrain's growing attractiveness as an investment destination, which has recently seen the country recorded its highest Real GDP growth rate in almost a decade. Eligibility for the License requires companies with major investment and strategic projects that will create over 500 jobs in Bahrain, or have an investment value exceeding $50 million.
Companies that obtain the License will benefit from various privileges and advantages, including prioritized allocation of land for investments, streamlined access to government services such as business licensing and building permit approval, and support from Bahrain's Labour Fund, Tamkeen, and Bahrain Development Bank.
The License was introduced by Bahrain's Cabinet, which was chaired by HRH Prince Salman bin Hamad Al Khalifa, Bahrain's Crown Prince and Prime Minister. The main objective of the License is to attract investments from local and international companies and create job opportunities locally.
The License also offers further benefits, such as integrated cooperation with different government departments, a designated account manager from Bahrain's Economic Development Board, and a potential review of existing laws or regulations where necessary and applicable.